Neobank Netbank Joins the Mastercard Fintech Express to Become a Card Issuerby Fintech News Philippines June 25, 2021
Netbank announced that it will join the Mastercard Fintech Express programme which gives it access to a vast range of the latter’s digital-first products and enabling it to issue debit and credit cards under its partners’ brands.
Through the initiative, fintechs are offered access to a suite of digital products to differentiate their offerings, as well as flexible commercial agreements for early growth stages to reduce barriers to entry.
Mastercard also provides global licensing support with in-market teams to facilitate the acceleration of fintechs’ growth and expansion.
Mastercard Fintech Express is a key pillar under Mastercard Accelerate, a fintech platform designed to give startups and emerging players the support and assistance they need to transform, scale and connect.
Netbank is a fully regulated bank operating under a rural banking license.
“We see massive opportunity for expansion of digital payments in the Philippines.
This partnership with Mastercard will enable us to provide a professional, safe and innovative range of payment solutions, which is what the market needs. We look forward to allowing a wide range of partners to issue cards in this exciting market.”
said Gus Poston, co-Founder of Netbank.
“Mastercard welcomes Netbank as its newest partner in Fintech Express—particularly given that they are the Philippines’ first Banking-as-a-Service platform.
Netbank’s offering promises to give more Filipino businesses a head start in digitalisation, which is particularly important now that the economy has become exponentially more reliant on digital commerce as a result of the pandemic,”
said Simon Calasanz, Country Manager, Philippines, Mastercard.
Featured image credit: Edited from Pexels